Officials with Arkansas-based J.B. Hunt Transport reported the company’s second quarter income fell by 21 percent this year. The company reported net income of $50.6 million compared with $63.9 million a year earlier.
The Wall Street Journal reported that operating expenses rose to 90.4 percent of revenue, up from 88.8 percent a year earlier, as fuel costs rose 37 percent. The company officials said that high fuel costs are largely to blame and that they are going to start aggressively seeking better fuel surcharges.
One bright spot for J.B. Hunt is its growing intermodal fleet, which saw revenue increase 28 percent in the second quarter.